I've owned 2 racks over the years, and at this point I'll stick with stands instead of using a rack again.
1 rack was a 1st generation Pearl rack (the one designed by Jeff Porcaro in the late 80's(?) ). While I found not having to argue with tripod bases nice, and the square tubing had absolutely no issues with slippage, the fixed rack height barely cleared the shell of my 24" kick, the lack of modularity to adjust for the size of kit I wanted/needed to use (i.e. string from 8 pc down to 5), and it's inability to collapse or easily break down for transport (sides folded in, but the legs didn't...) prompted me to sell it.
2nd rack was a Gibraltar. Primarily used with my ddrum4 electronic kit, I also used it with my Pearl and Sonor kits a few times. With that one I learned very quickly the importance of memory locks - not just for quick setups, but also for added grip to prevent a clamp from slipping. As nice as it was to be able to setup everything quickly and a 2-person lift to get it on stage once assembled, there were times it would literally take hours to get everything adjusted correctly, especially if one of the bars was at the wrong height or wrong angle. I also had a few of the clamps wear out from the heavy knurling of the ddrum L-Arms, which had to be taken out anytime it was being transported or I'd end up impaling myself or someone else, or snagging intimate objects with them... Sold the ddrum4 kit, and decided to sell the rest of the rack shortly after as I'd already gone back to stands with my Designer kit.
I'm finding that I'm quite happy with bass-drum Mounted Toms, and using at most 3 double-cymbal stands. Even using Sonor's 600 series hardware, the weight of the tom mount and 3 stands is equal or less than a rack would be, they're quicker/easier to setup and tear down, and can fit in a smaller/shorter rolling hardware bag than the rack tubes can.
That said, I'd reconsider a rack if I decided to get another electronic kit, but I don't see that happening anytime soon.